American consumers haven't been this upbeat about the economy since 2021

Fri, 01/19/2024 - 12:47

Shoppers have their receipts and carts checked by an employee as they exit from a Costco store in Alhambra, California, on August 19, 2019/ — Consumer sentiment jumped to start 2024, hitting its highest mark since 2021.
Frederic J. Brown/Getty Images

The University of Michigan's consumer sentiment gauge surged in January to 78.8, the highest since July 2021.
Year-ahead inflation expectations softened to 2.9%, hitting the lowest since December 2020.
Both Democrats and Republicans expressed more optimism too.

It's a new year, and Americans are feeling better about the trajectory of the economy.

The University of Michigan's consumer sentiment gauge jumped to 78.8 in January, the highest mark since July 2021. That's up from 69.7 in the prior month, and 64.9 one year ago.